Cummins Inc. Files 2025 Proxy Statement

TL;DR

Cummins DEF 14A is out - vote on exec pay & board!

AI Summary

Cummins Inc. filed its definitive proxy statement (DEF 14A) on March 31, 2025, for its annual meeting. The filing details executive compensation, board nominations, and other corporate governance matters for the fiscal year ending December 31, 2024. Shareholders will vote on proposals including the election of directors and the ratification of PricewaterhouseCoopers LLP as its independent registered public accounting firm.

Why It Matters

This filing provides shareholders with crucial information to make informed voting decisions on company leadership and financial oversight, impacting the company's strategic direction and governance.

Risk Assessment

Risk Level: low — This is a routine annual proxy filing and does not contain new material financial information or significant strategic shifts.

Key Players & Entities

• CUMMINS INC. (company) — Registrant
• PricewaterhouseCoopers LLP (company) — Independent registered public accounting firm

FAQ

From the Filing

0001104659-25-029877.txt : 20250331 0001104659-25-029877.hdr.sgml : 20250331 20250331161702 ACCESSION NUMBER: 0001104659-25-029877 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 104 CONFORMED PERIOD OF REPORT: 20250513 FILED AS OF DATE: 20250331 DATE AS OF CHANGE: 20250331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CUMMINS INC CENTRAL INDEX KEY: 0000026172 STANDARD INDUSTRIAL CLASSIFICATION: ENGINES & TURBINES [3510] ORGANIZATION NAME: 06 Technology EIN: 350257090 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-04949 FILM NUMBER: 25793497 BUSINESS ADDRESS: STREET 1: 500 JACKSON ST STREET 2: BOX 3005 MAIL CODE 93050 CITY: COLUMBUS STATE: IN ZIP: 47202-3005 BUSINESS PHONE: 8123773842 MAIL ADDRESS: STREET 1: BOX 3005 MAIL CODE 93050 STREET 2: 500 CITY: COLUMBUS STATE: IN ZIP: 47202-3005 FORMER COMPANY: FORMER CONFORMED NAME: CUMMINS ENGINE CO INC DATE OF NAME CHANGE: 19920703 DEF 14A 1 tm2425076-3_def14a.htm FORM DEF 14A tm2425076-2_nonfiling - none - 18.7655043s TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ​ SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.    ) ​ Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ​ ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ​ ☒ Definitive Proxy Statement ​ ☐ Definitive Additional Materials ​ ☐ Soliciting Material under §240.14a-12 ​ CUMMINS INC. ​ (Name of Registrant as Specified In Its Charter)   ​ (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): ☒ No fee required. ​ ☐ Fee paid previously with preliminary materials. ​ ☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 ​ TABLE OF CONTENTS Letter from our Chair and Chief Executive Officer To our Cummins shareholders, In 2024, I celebrated my 25th anniversary with Cummins and my second year as Chair and CEO. I’m proud of all that we accomplished last year. Our Destination Zero strategy was the cornerstone of our record performance in 2024 and will remain the driving force behind our sustainable growth and innovation as we continue powering our customers’ evolving energy needs globally. Operational excellence and strong returns During our Analyst Day last May, we raised our long-term financial targets, reflecting our confidence in our Destination Zero strategy and our ability to grow and deliver increasing returns to shareholders. In 2024, we demonstrated notable progress toward these targets by delivering strong financial results and setting records in several parts of the business. Our full-year revenues reached a record $34.1 billion, up slightly from the prior year, even with the successful divestiture of our Filtration business, Atmus Filtration Technologies, on March 18. Including the one-time gain related to the separation, our GAAP net income for the year was $3.9 billion, or 11.6% of sales, our EBITDA for the year was $6.3 billion, or 18.6% of sales, and earnings per diluted share (EPS) were $28.37, all record achievements. 2024 marked a historic year for Cummins as we delivered strong financial and operational results amid weakness in our North America heavy-duty truck and China markets. Effective operational execution and strength in other key markets, such as power generation and medium-duty truck, allowed us to deliver profitable growth despite these challenges. We are proud of our talented, diverse workforce of approximately 70,000 employees worldwide for their ability to show remarkable dedication and